SANTA ROSA, Calif. & CALABASAS, Calif.--(BUSINESS WIRE)--
Keysight Technologies, Inc. (NYSE: KEYS) and Ixia (Nasdaq: XXIA) today
announced that Keysight has completed its acquisition of Ixia.
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“We are pleased to have quickly brought the Ixia acquisition to
completion and excited to add Ixia’s deep bench of talent to the
Keysight team. This complementary combination accelerates several of our
strategies for growth, including expanding our software solutions and
software engineering capability. We have also broadened our reach within
the communications development lifecycle, and will build and grow Ixia’s
established strong position in the fast-growing visibility and security
markets,” said Ron Nersesian, Keysight president and CEO.
“Keysight’s leadership now encompasses a unique range of end-to-end
solutions for the development of next-generation technologies and
optimizing and securing networks,” Nersesian added.
Ixia serves the top 15 network equipment manufacturers, 47 of the top 50
carriers, and 77 of the Fortune 100. Ixia also brings to Keysight over
400 patents issued and pending and a team of over 1,800 dedicated
professionals.
The aggregate transaction consideration totaled approximately $1.6
billion, including transaction and financing fees and expenses and net
of cash on hand at Ixia at the closing, with Ixia shareholders receiving
$19.65 per share in cash. Keysight funded the transaction with a
combination of cash on hand as well as proceeds from public offerings of
stock and notes and additional debt financings. Ixia will no longer be
traded on the Nasdaq Global Select Market and its financial results will
be reported under Keysight’s newly formed “Ixia Solutions Group”.
About Keysight Technologies
Keysight Technologies (NYSE: KEYS) helps customers bring breakthrough
electronic products and systems to market faster and at a lower cost.
Keysight’s solutions go where the electronic signal goes, from design
simulation, to prototype validation, to manufacturing test, to
optimization in the network. Customers span the worldwide communications
ecosystem, internet infrastructure, aerospace & defense, automotive,
semiconductor and general electronics end markets. More information is
available at www.keysight.com.
About Ixia
Ixia (Nasdaq: XXIA) provides testing, visibility, and security
solutions, strengthening applications across physical and virtual
networks for enterprises, service providers, and network equipment
manufactures. Ixia offers companies trusted environments in which to
develop, deploy, and operate. Customers worldwide rely on Ixia to verify
their designs, optimize their performance, and ensure protection of
their networks to make their applications stronger. Learn more at www.ixiacom.com.
Forward Looking Statements
This news release contains forward-looking statements as described in
the “safe harbor” provision of the Private Securities Litigation Reform
Act of 1995. These statements involve a number of known and unknown
risks, uncertainties, and other factors, which may cause actual results,
performance, or achievements to differ materially from anticipated
future results, performance or achievements expressed or implied by such
forward-looking statements. These forward-looking statements regarding
future events and the future results of the companies are based on
current expectations, estimates, forecasts, and projections about the
industries in which Keysight and Ixia operate and the beliefs and
assumptions of their respective management. The forward-looking
statements contained herein include, but are not limited to, information
regarding the expected benefits and costs of the acquisition of Ixia;
management plans relating to the acquisition of Ixia; Keysight’s future
revenues, earnings and profitability; the future demand for the
companies’ products and services; the plans, strategies and objectives
of management for future operations; product development, product
extensions, product integration, complementary product offerings and
growth opportunities in certain business areas; and customer
expectations. These forward-looking statements involve risks and
uncertainties that could cause results to differ materially from
management’s current expectations. Such risks and uncertainties include,
but are not limited to, the risks and uncertainties incidental to the
technology industry, including price and product competition; dependence
on new product development, technological advances and innovation;
changes in customer demand for Keysight’s or Ixia’s products and
services caused by demographic changes or other factors; and the
possibility that the anticipated synergies and other benefits from the
Ixia acquisition will not be realized, or will not be realized within
the expected time periods.
In addition, other risks that Keysight faces include those discussed
under the heading “Risk Factors” in Keysight’s Annual Report on Form
10-K for its fiscal year ended Oct. 31, 2016, Keysight’s Quarterly
Report on Form 10-Q for the period ended Jan. 31, 2017. Other risks that
Ixia faces include those discussed under the heading “Risk Factors” in
Ixia’s Annual Report on Form 10-K for its fiscal year ended Dec. 31,
2016. Keysight and Ixia undertake no responsibility to publicly update
or revise any forward-looking statements for any reason.
Additional information about Keysight Technologies is available in the
newsroom at www.keysight.com/go/news
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Source: IR-KEYS
View source version on businesswire.com: http://www.businesswire.com/news/home/20170418006423/en/
Source: Keysight Technologies, Inc.